NDP Media Release: The feds must protect renters from financial landlords now

“Building on a recent media article about a new study by Martine August and Cloe St-Hilaire from the University of Waterloo’s Planning Department, the research reveals that financial landlords — including real estate investment trusts (REITs), publicly traded property firms, and asset managers — file eviction applications at significantly higher rates than any other type of landlord. These corporate entities are evicting nearly 1 in 9 tenants each year, highlighting how legislative loopholes have contributed to a growing housing crisis.

Housing is a human right, not a luxury for investors to make quick profits. We cannot allow large financial firms, similar to the ones that Prime Minister Carney used to work for, to continue treating people’s homes as commodities to be bought and sold for maximum profit. The alarming rise in evictions is a direct consequence of the financialization of our housing market — and it’s time for that to end.

The Housing Minister, Gregor Robertson, must bring in legislation immediately that ensures:

  • No more corporate takeovers: We must place a moratorium on the purchase of residential properties by big financial landlords. We can’t allow real estate companies to keep pushing working families and low-income Canadians out of their homes.
  • Empower communities: We need to create a national acquisition fund to help non-profit organizations, housing co-ops, and community land trusts purchase rental buildings — so we can keep homes affordable for generations to come.
  • Control rents: Bring back national vacancy control. No more speculators jacking up rent prices between tenants. Rent prices need to stay fair, stable, and predictable.

We need federal policies enacted immediately that protect renters across the country while new affordable housing is waiting to be built under Canada Homes.”

The feds must protect renters from financial landlords now

In reaction to a recent study by the University of Waterloo Planning Department on financial landlords, NDP critic for Housing Jenny Kwan issued the following statement:

“Building on a recent media article about a new study by Martine August and Cloe St-Hilaire from the University of Waterloo’s Planning Department, the research reveals that financial landlords — including real estate investment trusts (REITs), publicly traded property firms, and asset managers — file eviction applications at significantly higher rates than any other type of landlord. These corporate entities are evicting nearly 1 in 9 tenants each year, highlighting how legislative loopholes have contributed to a growing housing crisis.

Housing is a human right, not a luxury for investors to make quick profits. We cannot allow large financial firms, similar to the ones that Prime Minister Carney used to work for, to continue treating people’s homes as commodities to be bought and sold for maximum profit. The alarming rise in evictions is a direct consequence of the financialization of our housing market — and it’s time for that to end.

The Housing Minister, Gregor Robertson, must bring in legislation immediately that ensures:

  • No more corporate takeovers: We must place a moratorium on the purchase of residential properties by big financial landlords. We can’t allow real estate companies to keep pushing working families and low-income Canadians out of their homes.
  • Empower communities: We need to create a national acquisition fund to help non-profit organizations, housing co-ops, and community land trusts purchase rental buildings — so we can keep homes affordable for generations to come.
  • Control rents: Bring back national vacancy control. No more speculators jacking up rent prices between tenants. Rent prices need to stay fair, stable, and predictable.

We need federal policies enacted immediately that protect renters across the country while new affordable housing is waiting to be built under Canada Homes.”

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For six years, Rajesh Sharma has watched his parents grow older from half a world away.

The Vancouver area small businessman came to Canada from India, built a career, bought a home and met the income requirements to sponsor his mother and father.

His father’s health is failing. His mother now struggles to manage their home alone. Sharma spends his evenings arranging medical appointments from Canada and wondering how many more birthdays and family milestones they will miss.

Ottawa’s recent decision to suspend new applications for the Parent and Grandparent Program (PGP) until further notice has turned that uncertainty into something more final.

For Sharma and thousands of other immigrants, there is now no application date, no place in the queue and no assurance their aging parents will ever be able to join them permanently in Canada.

NDP immigration critic Jenny Kwan said the decision leaves Canadians and permanent residents with no date to apply, no guarantee the program will reopen and little hope of reuniting with aging parents caught outside the country.

“The government has shamefully once again suspended new intakes to the Parent and Grandparent sponsorship program,” she said.

“At this rate, it will take decades to clear the backlog. Families cannot afford to wait decades to be reunited with their parents and grandparents.”

Immigration, Refugees and Citizenship Canada announced July 15 that it will stop accepting new interest-to-sponsor forms and will not invite more potential sponsors to submit applications until further notice.

The department said it will continue processing applications already in the system and plans to approve up to 15,000 parents and grandparents for permanent residence in 2026.

The department currently has about 60,500 permanent residence applications under the Parents and Grandparents Program in progress.

Processing times are approximately 33 months outside Quebec and can reach 66 months in Quebec. About 54,000 expressions of interest from the original 2020 pool were still outstanding as of September 2025.

Kwan said the government is managing the backlog by restricting access rather than fixing a system that has kept families waiting for years.

“It has remained closed since 2020, shattering dreams of family reunification for thousands of Canadians and permanent residents,” she said.

“Families who have been eagerly waiting for the application system to reopen are once again being told by the Liberals that they are out of luck. It is a slap in the face of families who have waited so long to reunite with their loved ones.”

The suspension comes as Ottawa sharply reduces the number of parents and grandparents it plans to admit.

Under the 2026-2028 Immigration Levels Plan, the federal government has set a target of 15,000 admissions through the program in each of the next three years.

The previous plan had called for 21,500 admissions in 2026, meaning the new target represents a reduction of about 30 per cent.

*Click image or link to read the full news article - https://asianpacificpost.com/article/10670-%E2%80%9Chow-many-more-years-must-i-wait%E2%80%9D.html

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